Robert W. Baird Issues Positive Forecast for Kite Realty Group Trust (NYSE:KRG) Stock Price

Kite Realty Group Trust (NYSE:KRG) had its price target raised by Robert W. Baird from $26.00 to $29.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the stock. Compass Point raised their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Piper Sandler lifted their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. KeyCorp upped their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.86.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $26.92 on Friday. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.94. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of -667.25, a P/E/G ratio of 4.07 and a beta of 1.29. The company has a 50 day simple moving average of $26.31 and a two-hundred day simple moving average of $24.19. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio (DPR) is -2,600.00%.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. boosted its holdings in Kite Realty Group Trust by 819.0% during the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 950 shares in the last quarter. GAMMA Investing LLC boosted its stake in Kite Realty Group Trust by 158.2% during the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,204 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Kite Realty Group Trust in the third quarter valued at approximately $45,000. Quarry LP increased its stake in Kite Realty Group Trust by 108.4% during the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares during the period. Finally, SageView Advisory Group LLC purchased a new position in Kite Realty Group Trust in the first quarter valued at $52,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.